The problem with these kinds of schemes is they make people think they've found a clever way to make money and happily signal it. It's not just the money (they're not usually getting) they're getting from it. Convincing them they're stupid instead of clever will be extremely difficult. You can say they're not stupid, but irrational, but most people won't know the difference so good luck explaining them that.

The weirdest brand of rampant irrationality is working your ass off to buy a lot of expensive stuff you really don't need and then wondering why you're poor. I haven't had success in convincing these people they don't need their stuff to be happy.

Even some of my med school friends who you'd expect to be intelligent enough to notice the problem buy diamond coated gold watches, BMWs and live in expensive houses and then complain how much they have to work. Perhaps the complaining is a facade though and they actually know what they're doing. Some people need to signal they're richer than they actually are.